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Cyprus 21, Us 10, Neil 5, Washington 5, New York 4, Paul Ryan 4, Boehner 3, Chris Christie 3, United States 3, U.s. 3, Yoko 2, Benigans 2, Tyco Integrated Security 2, Siemens 2, Barack Obama 2, Europe 2, Steven 2, Cuomo 2, Joe 2, Malia 2,
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  FOX Business    Cavuto    News/Business. Business news and  
   interviews; with Neil Cavuto. New.  

    March 18, 2013
    8:00 - 9:00pm EDT  

opening up on senate side, the house side they will keep the majority. it is very hard for democrats to take back the house before 2020, in a new reaportionment, they blue it and lost -- blew it and lost tremendous resources. i don't see how democrats get it back, i think they will do fine, they need to unite once they have a good 2014, about what the policy positions and strategies. lou: well, a couple of those, gay rights, comprehensive immigration reform, we're watching this thing, and abortion, women's reproductive right, however you top file it there is a real c change. >> and barack obama were here to advance legislation on any of those, to me this sounds like a
inhave atation to do that from reince priebus. you force the thousan house to t itself, you will only continue the war, that is why i think it was not a good idea to do it this way, as for 2014, i think it depends on the circumstances in the economy. if there is more obama fatigue. lou: can i say, watching the republican party with all prevail -- tre veil, i think that everyone better give up on idea of doing anything with the democrats and letting the economy doing the intellectual heavy lifting for the republican party, they better get ready to go. because, this is not going to be a default election, just as 2012 was. i have to -- i hate to do it, but we have to right there.
anyway, thank yo thank you very, that is it for us, we hope you will be us tomorrow, congressman frank wolf of join us. on what is going on in the obama justice department, good night from new york. york. >> you know every liberal's dream that government seizing your money out right, there is nothing you can do about it. now no cyprus they could find out the hard way, this tiny island nation sent a tsunami shockwave to the rest of the world, keeping the banks closed until they find a more palatable way to. welcome i am neil cavuto, you got 10 grand in a bank account. how about waking up tomorrow morning and then finding a thousand bucks missing, right off the top, does that sound over the top? in cyprus that is reason that
thousands of bank customers are blowing their talk, with talk of a 10% tax on deposit the money, has a lot of angry customers storming the atm machines but the government has closed banks to avid a bank run, and keeping them close until they sort this out, but the tax is till coming. for cyprus it is about the cost of staying in the euro club, never mind how average i citizes there are getting club. but this is about taxing assets there. something with which we should all be very familiar here. no uncle sam has not hacked into our bank accounts -- yet, but he made a b-line for our other assets like next time we try to sell our home, and obamacare wants 3.8% of the profit for medicare tax. juss like it is tacking medical devices for what it deems exception atrogen -- generous
healthy insurance policy. so what is such a big leap going from hitting you up for dollars off fur devices, and hitting you up for dollars off your deposits. none, i tell you cyprus is not isolated. i am telling you, cyprus is a test case, it is starting, it was not only liberal the world over watching. now big brother, everywhere salivating, that mike rig's biggest worry, your concern, is that this is maybe a trial balloon? >> i mean, the united states is not a safer's pair -- saver's paradise. neil: we have checking accounts. >> we do. neil: all fair game. >> it is, it could be fair game, governments, when they are up against the wall they will do as much as they can get away with.
what they think they can get away with in cyprus is probably not what they think they can get away with here, we're just more subtle here, in cyprus, the government said, look, only way we can run the country is to take 10% of the savings account with those who have over 100,000 euros or more. and just like, a lot of poor people are getting tacked in cyprus for the country poor management a lot of people will get taxed in the u.s., if you have diabetes, you buy a diabetes pump you are getting taxed on, that how do you want to be robbed? we're already, a lot of libertarian say taxation is theft, you know, do you want to use clippers or shears when they do your hair cut. neil: or a power saw. i guess, people say, can can't
happen here, but to your point it is happening here, we have taxes on assets here. the federal government with some of the changes in the new health care law is doing it and has succeeded in forcing it. i don't think it a huge leap that everyone seems to think, going after folks bank accounts there are a lot of more routes you can go to so wallop people through all sorts of means. >> and cyprus there is an interesting debate with this plan going on, is it a basically a complication -- com come com n diego or a tax, governmenting take money from people who make things, government is taker people are makers, nobody will dispute that but when language they use to describe when they take from makers. you know, there are the taxes on
assets, tax that are on insurance companies that are getting passed to consumer and you know maybe down the line there will be questionable taxes on savings accounts. you never know what the united states will do. neil: all i know, they are a heck of a lot more ways to be create testify get money than spending, very good points thank you, mike rigs in washington. >> to mike a point, the problem with small nation going after its citizens bank deposits, other bigger nations see how it goes, and markets world over fear all far it goes, which could explain why so many markets were tajing oing tankins thing. joe perry. and -- joe, what do you think? >> i think it is jjst as you
said, this has been going on, for a while. and the bigger government gets, the more intrusive it gets it has been in your pockets, my pockets, my banks pockets by depositors pockets, large and small. what is happening now, like a story we use in banking called boiling a frog, you want to boil a frog, if you put him in boiling water he will jump out and complaint, this is what is happening in cyprus, but if you take it, and you put him in warm water, and you gradually turn up the heat, he will be cooked before he even knows it. and that is what is happening in this country. the government, is moving in to all different areas, and taxing but there is more involvement in taxing. looking at the low interest, the
economy is down but, what the government is allowing the big banks to do, is take all those deposits they are not paying hardly anything on, and they are going ought and buying securities, long-term securities. so, if you talk about the approximately 6.75% that they were initially talking about in cyprus, how does 4% a year that the government is taking away from the depositors here sound. neil: a very good point, the frog analogy i could do without. making me fuel uncomfortable. >> we have to be careful. neil: but this is one thing cyprus they argue might be cyprus, but i would imagine if this would spread to countries like greece and italy, and they were even to consider it, quite a develop reaction, what do you
see? >> well, thank you, neil, and cyprus is the test market for this. i think it could spread throughout under if it is successful. if you look at cyprus, you are a citizen, you woke up this morning and you were informed that government closed down the atm, they chained doors on the banks and you can't have your money that undermines the trust in the banking system. neil: how are you going to avoid a bank run? even if they patch this over, are you telling me, someone of average intelligence is not going to say, i don't want to risk it, i am taking my money out to be safe. >> here is how bad it is, if you are a citizen of cyprus, you can't go to atm or the bank, you will be given a choice to vote, you can vote not to take bailout, and your bank fails your banking system fails and your country falls with chaos or
take the bailout, have 10% of your money confiscated i believe stolen, your confidence in the banking system is under mined, you pull your money out of the bank, you don't have confidence any more, your country falls into chaos, that is what i think is going to happen in cyprus. i believe this can spread through europe can the other countries in trouble like spain, portugal, italy and greece. neil: you know, interesting, a lot of these country have value added taxes and various wealth related taxes, this is not such a leap, where we have, you know look at your airline ticket when you get it have you various fees, and surcharges and charges on top of the surchange, i don't think it would be a huge leap to be a large deposit fee or anything fee or median any fee. >> we focus on that kind of thing all of the time. that the government, we're just
waiting, for them to do that there are you know talk about various fees they come around to, when they took away the programming for guarantees deposits on banks. that is in a way, a tax on the depositors, where what happened when. they then had to take their money and look for other sources to try to protect themselves in case of banks happen. but you talk about the people in cyprus having a choice. what choice did we have, when general motors was in danger of going under, and this whole too big to fail issue and government pouring all this money into that. neil: putting ban holders -- bondholders at the back of the line of. i look at bank accounts for a
lot of folks as sacred. my money, my savings, i read the story of cyprus taxy driver who, saved a lot of money, bit by hit piled it up, does not dabble in the markets. and all of a sudden, out of the blue, there is this tax. that breaks a sacred trust that cuts to the core of our finish faith, doesn't it? >> you know it does, keep in mind that decision are not made with the government of cyprus that was done by european central bank. neil: you are right. >> in germany, that is how that happened. they decideed it of better to steal money from individual doe pos iters than -- depositors than for the banking system to go under, that i spread throughout europe, and god for
biforbid the world. neil: thank you very much, i'm trying to remind you folks, for those who say it cannot happen. when it comes to asset taxes and the rest, it is already happening, more than just a pain in the assets for them, it is a reality, already for us. meanwhile, the obamacare situation, if it is so bad, why are so many republican governors going along? chris christie was one thing. but idaho governor as conservative as they get, what is behind him setting up a insurance exchange of their own, hope to be yoko ono broke up the beatles don't let anyone tell you otherwise, i am serious, yoko and lady gaga are so crass.
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beat them join them, then try to beat them? not quite, when it comes to republican governors forced to deal with obamacare they are in a little bit of a box, it is the law of the land, even conservatives like chris christie who opposed president's health care overhaul are already bent on allowing federal government to takeover more of their medicaid cost in new jersey, that is a saving to new jerseyians, so why not. now health care exchanges they have to se set up is another is, but republican idaho governor busch otter said -- bus butch r said better he set them up. >> it comes down to a couple things, i was part of the republican organization, when we first talked about nobody will do this. if nobody does it, it will just be crushed by as 10 weight --
by its own weight. but then i was thinking about it the en game for obama is a single pair system, how much easier to switch all 50 states to a single pair system if you start with 28 that are on the same system, so, and all of those that not to do it for the state, but to do it themselves, or have the federal government come in they will be on the same system. neil: but don't you see that is part of at all of a sudden, great logic. but it would be same as giving federal government more control over medicaid because governors might figure it is like free candy. the president is taking this load off. >> you make my argument, i am saying no biel do your own, we have -- we'll do our own, we have one of the lowest in the nation, idaho does we're second from the bottom in terms of health care cost. >> you are healthy, climbing mountains and that stuff.
>> the other part is those 26 will be thrown into the same system. neil: best to avoid that. >> best to avoid the system, i think we should have had 50 different plans, so that we could truly be laboratories of health care for the future. neil: it is the law of the land like you say, you can't fight city hall? >> i look at it this way, too, that is the worse we'll end up with. if we can do anything in negotiation or flexibilities or waivers to improve it, maybe i can end up with something better. neil: what do you make of this debate among republicans, i all but all civil war among republicans. when you have speaker boehner, and paul ryan, saying, there is not an immediate debt crisis. what do you make of that? >> well, you know, i don't know, i think there is. i think it is a -- >> what is in it for them to say
there isn't? >> you know, i can't get into their brain, i do not know what that is about. i do know $16.7 trillion debt, growing at the rate of the deficit every year, is a big problem. >> so they see, they say -- i want to stress it is a big problem, but not an immediate crisis, di does that take the urgency off of addressing it? >> no, it does not, what business, what investment and capital is looking for is they are looking for tre deccability -- predictabilitiy and stannability, which they see the movement going on in the debt itself, that offers neither. >> when you and the governors met with the president, a weeks ago, and you talk, i think you were knee deep in the whole sequestration debate. and president's warning that disaster is coming. >> that was the story.
neil: and i thought to myself, governor, i mean, holy cow. however onurus the cuts would be, they are in a 3.6 -- budget, if whining about these cuts what are we doing when we have to put pedal to metal. >> i don't know, i can tell you that the governors said for the most part, we can handle this we've been balancing our budgets since '08 when the downturn came. neil: did any of you say, quit scaring people? >> you know, i don't remember that but i do remember this, that governors were pretty much in agreement we can handle it. there were mike bebe from arkansas made a great point, he said, mr. president, if you take that money away, we request handle it -- we can handle it but take away the rid tape, take away all of rules and
regulations, that direct every dime and every place that it is going. neil: what did he say? >> he said, wild look at it -- we'll look at it, that was 3 weeks ago. neil: they are still looking. >> they are nearsighted. neil: thank you very much. great to see you. >> thank you. neil: when we come back, the cyberattack threat, they are not only poking around our bank acounts but sneaking in our voting booth, this thing has gone national. [ buzzer ] hot dog? i'm buying. i'll use my capital one venture card with double miles you can actually use to fly any airline anytime. ♪ what are you doing? i'm saving one for later. my body keeps it warm. it's like a little hot dog steamer in there. go ahead, touch my chest.
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neil: what if cyberattackers could influence our next
presidential election it nearly delaying last poll's results for weeks, what in phoenix time the hacker -- what if the next time the hackers are not detected and the wrong guy is elected. former fbi director said it is an easy leap from banks to ballots. all i know, steven, i am hearing a lot more deserting cases -- diserting cases, i don't think this is a huge move from messing up our bank statement to our ballots, how real a threat is this? >> i'm so glad you are bringing this story to your listening audience, it is amazing. if you a voter, not a voter, this how real it is, we have a case we're finding out today, that in florida over primary season in august.
hackers tried to cast ballots they were looking for information on 2500 voters, 2500. keep in mind 2000 elect of decided by under 600. >> right. >> this could be a test. and when you look at -- we keep doing this, we keep taking technologies, and bringing home areas of our daily life before the second has been tested. as americans we hold the right to vote sacred, we should, what happens here, a vindor not even tate commission -- a vendor, not even a state commission finds out someone is trying to break in to cast ballots on behalf of voters who are not voting, a ven vendor finds it. neil: you know, i wonder, it gets to be like where wrong guy gets in or this this case with
high-tech s of this, there is no way to check, you know what i mean. >> that is right, this is a real warning, in this case they were lucky they found out this one example. >> i did not know that it was a vendor not some high ranking state official. just some guy, hey, i think we got a problem. >> think about it, we send elect monitors throughout the world to figure out if other countries, have voting systems that are equitable and are handled would fraud. in our own country we turn things over this computers where we do not know who is on the system. that has to end. we cannot allow this not to be a warning call, our elections could be up for grabs, we find year after year, more people want to vote through attend absentee ballot, you could wake up one morning an elect occurs that no
one predicted. there is no way to roll it back, someone would have deleted it. neil: a lot of stuff focused on absentee ballots, you could do a lot on-line, is message for now, don't to anything on-line until you get this right, or u.s. is that compound all of other problems? >> i tell you message for on-line voting is this is a why are that people better get into, with great kush caution -- caution, if there are no back ups, look, nobody liked the hanging chad, but there was something to go back to, it took time but you could have confidence in this election, there are systems out there banking system for example with greater security, a result of this study, come on, put a user i.d., and password like the banking system, this our right to vote.
neil: very well put, steven, your analogy about florida was turned by a few hundred votes in 2000, thank you very much. >> thank you, neil. neil: meantime, yoko's singing is not illegal, but maybe it should be. ♪ i want you to meet the uber lawyer saying that yoko's push to ban fracking with help from her celebrity friends is outrageously against the law. you can do just that. with our visionary cloud infrastructure, global broadband network a custom communications solutions, your business is more reliable - secure - agile. and with responsive, dedicated support,
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♪ neil: people paid money to see that. but i digress. i thought that yoko should be thrown in jail, but that was just for her singing. turns out she might be as liable for her protesting, the message she and other antifracking groups have used. the arguments none of these celebs registered as lobbyists, when pushing a cause they are techniquely breaking the law. you bet.
heather says yes. >> absolutely. spend more than 5,000-dollars under new york statute they are lobbyists they need to register. register. register. >> what do you think? >> they are being targeted, theying trying to educate the public, celebrity have free speech too, that is what this boils down to. there is a line 2 between lobbyg and free speech. >> why are they e. exempt. what making them different, they hole up signs that say governor cuomo don't franc new york, they are trying to influence legislation. neil: how would that be different if some of you, and your hea lawyer colleagues wento
protesting the same thing, you are not registered, you are speaking on behalf of fellow lawyers. >> neil, i think if we were to get together as a group and raise and spend more than 5,000-dollars, to stop fracking or whatever it may be, we would need to register as lobbyists. neil: groups can spend that aim and more going to washington, d.c. every year for annual right to life march, they would be considered lobbyist. >> this particular group is getting moneying it to particularly influence len legislation, and governor cuomo. under new york statute, because they do that, they meet requirement. neil: i understand, you focus on new york to that point they would be considered lobbyists. >> to that point everyone who contacts their legislator and writes them a litter, and trying to influence them. >> not. >> would you feel the same if
all of these actors, singers, use the term loosely with yoko, were to go, arguing on be half the fracking, you feel the same way. >> i would they have a right to voice their opinion on the issues that are important to them. >> sure. >> that is what they are doing. reason why they are targeted is because they are high profile. >> no. >> they make move and they have money to back it. >> neil, that is right. the difference is $5,000, it is specific in has changed it used to be 3,000, if people have that money, they have influence, this is not a first amendment issue, your voice is louder when you have more money. neil: to squelch the scent. whether from acting community or tv anchors to warn e march en m, would that be a slippery slope.
>> sure, there is a slippery slope any time you talk about lobbying, in preparation for this, i looked at case law, there are a lot of cases where you discuss whether or not lobbyists are protected by first amendment. everyone is right, but when you are raising large amounts of money, they have a web site, they have a skype video, don't franc my mother, they are putting it ing together a movement. >> how do you know how much money. no one knows the amount, that information is not public. neil: do you file the same way when -- feel the same way when businesses do this to push a cause. >> yes to a certain degree. neil: no you don't. there is a difference between businesses and hollywood. >> these are individuals who gathered on an issue that is important to them. >> you are tight with hollywood
group. >> there are 200 of them not just 3. >> but they are more -- their goal is to educate the public on a issue that impacts the environment, not lining their pocketbooks. neil: all right. >> their goal is to influence legislation, that is the point. neil: if you can agree on outlawing yoko ono concerts we might be off to the races, but thank you. this just in, that thing on your plate is still a biscuit. but it is not "seabiscuit." think this horse meat threat went too far. during sequestration, meet the restaurant ceo who said it damn near cost him business before and after sequestration.
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>> food safety may be compromised. >> it would impact food safety. >> food safety. >> food inspectors could find themselves out of work. neil: that was total horse bit. beef still safe, mr. ed nowhere near our platin plating. but just the threat cut to the choir ofny next guest -- chore of my next guest's, he is into food, ben began's ceo paul, he3 spend a lot of time trying to reassure customers, that it was okay at his restaurant and the food of the okay. i think that is probably a waste of your valuable hours. >> it is. another fabulous example of tra draconian hyperbole. the scare tactics and
misrepresentation, that creates a adversity, it is already hard enough with rising commodity prices, rising gas prices and rising taxes, now let's have scare tactics to have consumers more trepidacious. neil: did they say, i am not sure this beef is okay, i heard something about beef inspectors laid off, maybe i'll just try the fish. >> i think that the independent operator has more exposure to that, the chain operators. neil: you did not hear that of the the case. >> no. neil: you know other shoe to drop is this is just a matter of time that, you know, when you hear from agriculture seat for janet napolitano in homeland security, the cuts are rolled in, it is a grind, it is going to hit. >> mm-hmm, you know, this is not new news to us, this is something we've been proactive
on, and have incorporated into the strategy as we go forward. but it is you know it is about perseverance. neil: you don't put on your men trumenuhorse-meat free? >> no. we encourage our compete ores to do that. neil: how about, all of a sudden, in last couple of months market notwithstanding there has been a disconnect with average folks who are just slowing down. or bumming out, what is happening? >> again, i think this is another scare tactic where people are reading different headlines about different things, and anything in a negative tenor are causing our consumers to pullback. it is not just food service, but any retail that sells anything. there is a pullback.
and because people are scared now, we feel that more. neil: is any of that post payroll tax thing going back, you weathered that okay, but the argument is, it will hit, it will be felt, and even development like today, talk you know cyprus, going to tax people's bank accounts, and such. it is part of the scare out there. and will cause consumers to retrench. >> well, it is a ripple effect, we'll see impact from last year, last year this time we had 70-degree weather, now we have snow, this is impacting our traffic count our guest count impact is -- affecting not just us but every else, you have to overcome that. with different marketing and menu enhancement and openings for benigans, we opened a new
one for st. paddy's day. you know what is great that emotional connection that people have to benigans is so great, with adversity and emore, alarcon neck is -- emotional connection is one of reasons that i wrote, it is bleeding green, so, if you are so passionate about your brand, with the adversity we're dealing work we bleed green, then work 25 days, because 24/7 is not enough any more, you have to put in more time, a mentality we put in 25/8 to overcome the issues that are confronting us. neil: good for you, and good luck with the store, he is the big cheese at benigans, who knew he was irish.
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neil: did a guy named boehner just prove he is a bone head, you have to wonder. saying that he agrees with the president that the debt is not an immediate crisis. no short-term horror show, i guess on with the show. the adding our three billion bucks to debt each day show, the spending a trillion more than we're taking in each year show. if that is not an immediate crisis, i do not know what is.
against i am not steeped in all things washington. fortunately my next guest brian york is. what appears byron on be a republican laying down of arms on this signature issue? >> this is baffling, you can be a half mile upstream and niagara falls and it seems fine. if i could translate for speaker, i think he says that united states is not in an immediate det crisis because individuals and foreign countries are still buying u.s. debt, still 30eb possible to bow enormous sums of money, but he did not talk, as he should have, about the daily increase in debt, and about the amount that united states pays in interest about $2 25 billion a year, that is 6% of federal budget. we're an i an interest rate ince or two away from disaster on
that front, so many different things that boehner could have said. neil: it worries me this paul ryan says essentially the same thing, maybe to your point, we're not on the verge of seeing foreign makes pull their own out. but, they are not said in a vacuum, they are weighed and calibrated, i am wondering if they were as much to send a message beyond mainstream media, what do you think? >> i think you are right, they are not made in a vacuum, since paul ryan is chairman of house committee and john boehner speaker of the house, i think they wanted to send a fairly soothing message to the financial markets, but i think that evidence that we've seen, from financial market issthey are discounting ought this all
it stuff that is being said in washington, they look at republicans and democrats fighting over the budget again, ho-hum, i think they are not paying as much attention as they used to, to the fighting in dc . neil: i could flip it and say you will d doth not protest too, you might be escaping blame for problems you see very much around the corner but you don't want to scare anyone. >> you could say you were surprised and taken blind sided by the time is happens. paul ryan has been saying for years, this is the most predictable crisis ever, the one that is coming in entitlement spending continues to rise out of control. there is nobody, nobody in washington who'll be able to see they didn't say they done see this coming if it does arrive. neil: byron york thank you, sir. >> thank you. neil: barack obama sure could
learn a thing or 2 from homer simpson. >> i would like to survive long enough to see the effects of global warming, i got an inside tip, that it's all a bunch of crap.
neil: president prepares an executive order to all government agents when considering a project, consider the environmental impact of what you are doing. i might have thought that jobs impact of what you are doing might be more important, but enough about me. why any of us should find this unusual. first to you christen, mixed up priorities? >> i think so, at least not the same priority that american voters have. gallup did a survey, 40 percent of americans say that economy and jobs are top issue 2% say environment. if this is a trade off with jobs
and environment, i know where american people on, it does not sound like where the president is. neil: nick, is the president saying, you can ver have both. >> you can but not the way that president is, if you have state riregulates environment and job creation, it could happen, but with this cummulative environmental review, you are talking about shuts down a lot of natural gas production in a year where it has been a bright spot, you know these countries, aron world want to build more coal power plans to develop their economies, this is preventing us from giving them that coal. neil: malia, my worry, an agency comes forth with a plan for a project, the jobs are certainly there, but it might be iffy on whether it is good or bad for the environment, and project is shelved. how realistic do you think it
is? >> um, i don't -- well, i think those type of questions are the purpose of this. for us to look to see -- -- >> would you put emphasis on the job. >> i don't know why this is such an either/or conversation, i think that america has the so physcasion to balance these. and move forward because we're amazing we're not a simple mined country. and so i think thatteidea that e can collapse our long-term -- balance our long-term future by not hating our earth. and creating technology that lead the western and developed world, i don't see what is wrong with that. neil: my issue, malia, if you put a preference on getting ought of the above done, if i had my druthers i would lean on the jobs over environment, i
don'tment to trasmentiwant -- ih the environment but i would put emphasis on jobs. >> i think that this administration has put emphasis on jobs, so i don't -- i guess, the fear that you hold neil, and september simp you -- skepticism you hold, i don't hold because i trust my president. neil: on this issue, i do not, contrary to what you say, track record proves otherwise, the job gains we're net-net still down in jobs under this president's stuarseestewardship. neil: you look at president's record. all behind green initiatives.
i'm just saying, it is not had big jobs bank for the buck that you you would think. >> the one thing this may create jobs out this is jobs for lawyers, this will do the change in regulation, and what you have view before a project can get approved, you have to not only review important things, is this going to pollute water and air but now global warming a whole review process, this is a well the easier to sue federal government, saying you did not take adequate steps to prevent global warming because you approved project x, y and z, there are a lot of lawyers out there salivating over this. neil: here is my fear, with respect to malia and her position, i respect it, but i think you should make focus about jobs, i think that wrap, i have against this administration into office,